Economics

Democrats are still looking for explanations for their stunning rejection in the midterms — citing everything from voting rights violations and Middle America’s racist orientation to Americans’ inability to perceive the underlying genius of President Barack Obama’s economic policy.

What they have failed to consider is the albatross of contemporary liberalism. read more »

The recent political conflict between the Obama Administration and the U.S. Chamber of Commerce has thrown a new spotlight on an old communication problem. Local chambers of commerce, although they predate the U.S. Chamber by nearly a century and a half, often are assumed to be part of the U.S. Chamber, or otherwise under its direction. They aren’t. They are independent. read more »

In the future, historians may likely mark the 2010 midterm elections as the end of the California era and the beginning of the Texas one. In one stunning stroke, amid a national conservative tide, California voters essentially ratified a political and regulatory regime that has left much of the state unemployed and many others looking for the exits. read more »

Among farmers in western Africa, the passion for agriculture runs deep. Kwabena (Koby) Yeboah farms near the village of Gomoa Adumase about 45 minutes outside of Accra, Ghana in West Africa, driven by his focus and intent to succeed.

Koby started farming five years ago at the age of 22. “I love the outdoors, working with my hands and making things grow,” he says.” I also enjoy hunting too, anything to be outside.” It’s a familiar refrain you’ll hear from almost any farmer you visit in North America. It’s all about the outdoors and a certain respect for the land. (Photo) read more »

Central Buenos Aires is undoubtedly one of the world's great tourist destinations. Days could be spent walking among its narrow streets admiring the plentiful art noveau, art-deco, beaux-arts and other architectural styles. The triumphal Avenida 9 de Julio is one of the world's widest boulevards with two interior roadways of up to seven lanes and two service roads of two lanes, with a Washington Monument type obelisk at Avenida Corrientes (Top photo). Avenida 9 de Julio is bordered by buildings that are both ordinary and impressive, such as the Colon Opera House. read more »

Like a massive tornado, the Great Recession up-ended the topography of America. But even as vast parts of the country were laid low, some cities withstood the storm and could emerge even stronger and shinier than before. So, where exactly are these Oz-like destinations along the road to recovery? If you said Kansas, you’re not far off. Try Oklahoma. Or Texas. Or Iowa. Not only did the economic twister of the last two years largely spare Tornado Alley, it actually may have helped improve the landscape. read more »

In the currency wars looming between the United States and China, everyone is focused on the decline of the U.S. dollar and the overvaluation of the Chinese renminbi. In the standoff, China maintains a low valuation for the yuan — the unit in which the renminbi is denominated — against the dollar, insuring that Wal-Mart can fill its aisles with goods that cost less than the patio furniture and video games made in Paducah, Kentucky. read more »

Two years ago I hailed Barack Obama’s election as “the triumph of the creative class.” Yesterday everything reversed, as middle-class Americans smacked down their putative new ruling class of highly educated urbanistas and college town denizens. read more »

With the Cold War well behind us, the real choice between systems lies in a growing variation in the form of capitalisms. Choices now range from the Chinese Leninist model – essential centrally planned exploitation of the greed gene – to various kleptocracies, divergent Anglo-American systems and varied forms of European capitalism.

None of these systems are likely to excite the most rabid Hayekian, especially now that the once free market haven Hong Kong is being integrated into the Chinese command and control system. But still, according a new study by my colleagues at the Legatum Institute, when it comes to delivering the best economic environment for people and families various forms of liberal capitalism still perform best. read more »

In August 2008, then-candidate Barack Obama traveled to Lansing, Michigan, to lay out an ambitious ten-year plan for revitalizing, and fundamentally altering, the American economy. His administration, he vowed, would midwife new clean-energy industries, reduce dependence on foreign oil, and create five million green jobs. "Will America watch as the clean-energy jobs and industries of the future flourish in countries like Spain, Japan, or Germany?" Obama asked. "Or will we create them here, in the greatest country on earth, with the most talented, productive workers in the world?" read more »